Bill > HR4978

This bill, known as the "Secure Trade Act," imposes significant new duties and restrictions on imports from China, with the primary goal of reducing U.S. dependence on Chinese imports and addressing perceived trade imbalances. The bill introduces a baseline 10 percent ad valorem duty on all imports, with specific provisions targeting Chinese goods that will increase duties to as high as 100 percent for certain strategic and critical supply chain items. The legislation allows the President to phase in these duty increases over several years and provides authority to further modify or even prohibit imports from China if they are deemed a national security threat or involve unfair trading practices. Additionally, the bill requires a new valuation method for Chinese imports based on "United States value," which will be verified by U.S. Customs and Border Protection, and expands the Committee on Foreign Investment in the United States (CFIUS) review process to scrutinize greenfield and brownfield investments by foreign countries of concern, particularly those involving real estate purchases or industrial facility establishments. The bill aims to create a more restrictive trade environment with China, giving the executive branch broad powers to adjust import duties and investments based on national security and economic interests.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4978/all-info